11th Principles of Accounting MCQS Chapter 8

A cash account always shows

Debit balance

Both debit and credit balance

Nil balance

Credit balance

Credit purchases are recorded in

Cash book

Creditors book

Purchases returns book

Purchases book

It is used to record cash, bank and discount transactions on debit and credit side

Single column cash book

Petty cash book

Double column cash book

Treble column cash book

A document evidencing cash receipts and payments and forming the basis for making entries in the cash book is called

payment voucher

Cash memo

Cash voucher

Receipt voucher

An entry which is recorded on the both sides of cash book is called

Contra entry

Combined entry

Compound entry

Simple entry

It is used to record only cash receipts and payments

Double column cash book

Single column cash book

Treble column cash book

Sales book

Received a cheque from Bilal Rs. 1900 in ful settlement of his debt Rs. 2000 should be debited to

Cash account

Bank account

Both a & b

Discount allowed account

A statement which is used to reconcile the bank balance as per cash book with the balance as per pass book is called

Bank reconciliation statement

Bank statement

Income statement

Financial statements

paid to Nadeem cash Rs. 5000 and a cheque for Rs. 4800 in full settlement of his dued Rs. 10000 should be credited to

Cash account

Discount received account

All of these

Bank account

When cash is withdrawn from the bank for the personal use of the owner, must be debited to

Drawings account

Cash account

Capital account

Bank account